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id you understand that two of the very most successful business ideas of the twentieth century were invented by a man who died in debt? The two inventions continue to be in wide use and generate countless billions in revenue each year. We consider Thomas Edison while the inventor of the light bulb. The truth is that Edison invented the light bulb so he could market his electrical distribution system. Marconi remains referred to as the Father of Radio in fact his invention was based almost entirely on others’ work.
Con Edison remains a powerhouse (pun intended) in the electrical energy distribution service. Edison didn’t invent the modern power grids, however. His invention was for DC power distribution. A man by the name of George Westinghouse Jr. was an inventor. He invented the railway air brake. He’s most widely referred to as Thomas Edison’s main competitor in electrical energy distribution. The Westinghouse and Edison companies competed for years in what became referred to as the “War of Currents”, AC vs. DC. Science eventually won Alexander Malshakov the battle because AC power distribution is cheaper to deliver. The idea listed here is that neither Westinghouse nor Edison invented it.
The Marconi Company was wildly successful as was Marconi himself. He was awarded the Nobel Peace Prize for his focus on the radio. He was heralded as among the greatest inventors of most time. He later became a Senator in his native Italy. His fame and fortune were stupendous! He, however, didn’t invent the radio.
The inventor of these two died in debt and alone in the New Yorker Hotel. That was January of 1943. Later that same year the US Supreme Court upheld his patent which, in effect, said he had actually invented the radio. He had sold every one of his patents for AC power distribution to his former employer, the Westinghouse Electric Company. His name was Nikola Tesla.
This story is a perfect exemplory case of the reality about successful business ideas. Edison, Westinghouse and Marconi all knew the truth. Marketing may be the key. Successful business ideas are not the only real things that matter. What counts is that you will get others’ to get them. Thomas Edison’s company didn’t fail because his DC power distribution didn’t win. He adapted his company to distribute AC. Westinghouse knew that it wasn’t the invention alone that made the difference but instead getting hired to the public. Marconi’s success was largely centered on his mass appeal and his ability to take his ideas to market. Successful business ideas work since they are marketed. So remember Tesla whenever you think you have the maximum product or service. It will not mean anything if you don’t market it.
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